Megan Holdings Limited (Nasdaq: MGN), a Malaysia-based company specialising in the development, construction, and maintenance of aquaculture farms, has successfully priced its initial public offering of 1,250,000 ordinary shares at US$4.00 per share. The shares were approved for listing on the Nasdaq Capital Market, with trading commencing on 26 September 2025 under the ticker symbol “MGN”.
The offering is expected to generate aggregate gross proceeds of US$5 million before underwriting discounts and related expenses. The company has also granted underwriters a 45-day option to purchase up to 187,500 additional shares to cover over-allotments.
Proceeds from the offering will be channelled towards sales and marketing, expansion through merger and acquisition opportunities, development of the company’s proprietary Smart Farming System, and general working capital.
Founded in 2020, Megan Holdings has established itself as a trusted provider of shrimp farm maintenance services in Malaysia. Beyond upgrading and maintenance work, the company designs and develops new farms including a shrimp hatchery centre in Semporna, Sabah, and a 111-acre shrimp farm in Tawau, Sabah, and supports customers with building materials and machinery rental, positioning itself as a one-stop centre for aquaculture and agriculture needs.
The listing marks another milestone for Malaysian businesses on the global stage, reflecting the growing momentum of Southeast Asian companies pursuing U.S. capital market listings.
